v3.19.3.a.u2
Statement Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities:    
Net loss $ (8,635,434) $ (14,368,530)
Adjustments to reconcile net loss to net cash used in operating activities:    
Compensatory stock   22,650
Depreciation and amortization 40,992 48,211
Loss on sale of equipment 9,594  
Amortization of premiums and discounts on marketable securities, net (108,214) 39,251
Stock-based compensation 456,750 1,228,335
Amortization and termination of deferred research and development arrangement   (375,000)
Unrealized gain on fair value of warrants (2,265,869) (5,546,049)
Changes in assets and liabilities:    
Prepaid expenses and other assets 608,143 230,694
Accounts payable and accrued expenses (1,886,819) (81,376)
Deferred revenue 1,500,000  
Other, net 3,724 (36,824)
Net Cash Used in Operating Activities (10,277,133) (18,838,638)
Cash Flows from Investing Activities:    
Purchase of equipment (19,383) (39,224)
Sale of equipment 5,500  
Purchase of marketable securities (8,887,566)  
Redemption of marketable securities 12,000,000 11,950,220
Net Cash Provided by Investing Activities 3,098,551 11,910,996
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs 7,653,828 6,872,789
Payment of deferred offering costs   (100,000)
Net Cash Provided by Financing Activities 7,653,828 6,772,789
Net Increase (Decrease) in Cash and Cash Equivalents 475,246 (154,853)
Cash and Cash Equivalents - beginning of period 8,744,301 8,899,154
Cash and Cash Equivalents - end of period 9,219,547 8,744,301
Supplemental Cash Flow Information    
Operating cash flows paid for amounts included in the measurement of lease liabilities 197,224  
Non-cash financing and investing activties:    
Warrants issued 4,735,913 $ 4,841,830
Operating lease right-of-use assets obtained in exchange for lease obligations: $ 380,935  

Source